Ragusa Minerals’ Acquisition Deal Falls Through

Ragusa Minerals Limited (ASX: RAS) announced the termination of its Binding Heads of Agreement with Geopolymer Industries Pty Ltd and its shareholders, effective June 12, 2025. The agreement, initially dated March 21, 2025, was aimed at an acquisition; however, it failed to satisfy the Conditions Precedent outlined in Clause 6 of the agreement. Ragusa Minerals confirmed it will retain its Burracoppin REE & Kaolin/Halloysite Project. This project, located approximately 300 kilometers east of Perth, Western Australia, under granted exploration license E70/5708, holds promise for rare earth elements (REE), halloysite, and kaolinite. The company is shifting its focus to identifying and assessing new projects across various commodities and jurisdictions. Ragusa aims to discover a project that aligns with its existing portfolio and enhances shareholder value. The company’s experienced board and management team are actively pursuing these opportunities, leveraging their expertise in exploration, operations, and corporate strategy. Ragusa Minerals is committed to maximizing shareholder value through data-driven exploration and development of its assets.